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Global Sodium Ion Battery Market Share, Size, Analysis, Growth, Trends, Forecast: By Type: Sodium-Sulphur Battery, Sodium-Salt Battery, Sodium-Air Battery; By Application: Stationary Energy Storage, Transportation; Regional Analysis; Market Dynamics: SWOT Analysis; Competitive Landscape; Key Trends and Developments in the Market; 2023-2028
Global Sodium Ion Battery Market Outlook
The global sodium ion battery market size reached a value of USD 295.24 millionin2021. During the forecast period of between 2023 and 2028, the market is expected to grow at a CAGR of 14.50% to reach a value of around USD 667.02 million by 2027.
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Key Trends in the Market
Sodium ion batteries are an energy storage technique which uses electrochemical cells with positive and negative electrodes. Having an operating temperature range of -30°C to 60°C and a higher operational safety than lithium-ion batteries, sodium ion batteries offer a higher thermal endurance than other battery chemistries. Some of the key characteristics of sodium ion batteries are reversibility, exceptional electrochemical properties, and high specific discharge capacity.
- The sodium ion battery market is primarily being driven by the rising demand for electric vehicles. To reduce carbon emissions from fuel use, there has been a strong push towards electrifying transportation in recent years. As a result, governments worldwide are taking action to reduce their reliance on fossil fuels through initiatives like encouraging the purchase of electric vehicles or enforcing stricter environmental regulations pertaining to alternative energy sources. The increased focus on renewable energy sources will likely lead to an increase in sodium ion batteries, driving the market's expansion.
- Since sodium ion batteries are a key energy storage technology with added advantages, it is projected that the expanding solar and wind energy sectors will create considerable opportunities for the market for sodium ion batteries. Globally, the demand for cleaner energy is expanding due to an increase in greenhouse gas emissions. Along with this, the growing usage of sodium ion batteries to store electricity produced by solar or wind energy are positively impacting the market growth.
- Increasing consumer demand for electronics, including smartphones, computers, electronic toys, remote access devices, cameras, and other gadgets, has paved the way for the sodium ion battery market to expand globally. It is anticipated that the growth of smart infrastructure, smart buildings, and smart cities will help the global market for sodium ion batteries propel.
- Since sodium is widely used in scientific applications, there has been a recent increase in public awareness of sodium ion batteries as a potential and ecologically friendly substitute for lithium-ion batteries. Sodium ion batteries are more widely available and less expensive than lithium-ion batteries, thus helping the industry growth.
Global Sodium Ion Battery Market Analysis
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Based on type, the market is divided into sodium-sulphur battery, sodium-salt battery, and sodium-air battery. The market on the basis of application can be segmented into stationary energy storage and transportation. The regional markets for sodium ion battery can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global sodium ion battery market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.
- Contemporary Amperex Technology Co., Ltd. (CATL)
- Faradion Limited
- Natron Energy, Inc.
- HiNa Battery Technology Co., Ltd.
- Aquion Energy
- SAS TIAMAT
- AMTE Power plc.
- Others
Market Share by Application
Throughout the forecast period, the sodium ion battery market is likely to be dominated by the stationary energy storage segment. Energy storage is crucial to ensuring a consistent supply of electricity, particularly for renewable energy sources like solar and wind that produce more energy. When not in use, the stationary energy storage device can store energy and release it as electricity when required. In stationary energy storage systems, an electronic control system, an array of batteries, an inverter, and a thermal management system are frequently present.
Even if volumetric energy density restrictions are less stringent than for other uses, the life cycle costs for stationary storage applications like grid-scale load shifting of fluctuating renewable energy or behind-the-meter home storage must be as low as practically possible. Therefore, the market is anticipated to be driven by the rapid increase in renewable energy generation and the rising number of research and development activities and investments in sodium ion batteries for stationary energy storage over the forecast period.
Market Share by Region
Due to continuous research, growing deployment of battery energy storage systems, and the popularity of electric vehicles, Europe is one of the leading regions in the sodium ion battery market. The European Union is putting an emphasis on the conversion to renewable energy sources and helping local governments build infrastructure for electric vehicles. Rising sales of electric vehicles and the expansion of the region's renewable energy sector are further predicted to drive the sodium ion battery industry over the forecast period.
Meanwhile, North America is anticipated to have significant growth during the forecast period due to the region's growing use of electric vehicles and solar and wind power projects.
The Asia Pacific region appears to be a strong and swiftly expanding market for renewable energy. The region's renewable energy industry is growing primarily as a result of capacity expansions in countries such as China, Japan, and India. The expansion of the renewable energy sector is anticipated to accelerate the growth of sodium ion battery market in Asia Pacific over the forecast period.
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Competitive Landscape
Contemporary Amperex Technology Co., Ltd. (CATL), a Chinese battery manufacturer and technology firm, CATL was established in 2011 and focuses on producing energy storage systems, lithium-ion batteries for electric vehicles, and battery management systems. The first generation of sodium-ion batteries from CATL provide a number of benefits including high energy density, quick charging, outstanding thermal stability, excellent low-temperature performance, and high integration efficiency.
Faradion Limited was established in 2011 to create and commercialise sodium-ion technology. One of the main components of the solution for less expensive, greener energy are its sodium-ion batteries, which are recognised as an emerging technology. They have a better energy density and a wider operating temperature range than conventional batteries, and are less expensive and safer than lithium-ion batteries.
Natron Energy, Inc. is one of the top developers and suppliers of long-life, high-power, and reasonably priced Prussian blue sodium ion battery solutions for critical power and industrial applications, including data centre UPS systems and electrically powered material handling equipment. With its corporate headquarters in the United States, the company sells office supplies and goods for transportation.
Other market players include HiNa Battery Technology Co., Ltd., Aquion Energy, SAS TIAMAT, and AMTE Power plc., among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2022 |
| Historical Period | 2018-2022 |
| Forecast Period | 2023-2028 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Type |
|
| Breakup by Application |
|
| Breakup by Region |
|
| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Sodium Ion Battery Market Analysis
8.1 Key Industry Highlights
8.2 Global Sodium Ion Battery Historical Market (2018-2022)
8.3 Global Sodium Ion Battery Market Forecast (2023-2028)
8.4 Global Sodium Ion Battery Market by Type
8.4.1 Sodium-Sulphur Battery
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2022)
8.4.1.3 Forecast Trend (2023-2028)
8.4.2 Sodium-Salt Battery
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2022)
8.4.2.3 Forecast Trend (2023-2028)
8.4.3 Sodium-Air Battery
8.4.3.1 Market Share
8.4.3.2 Historical Trend (2018-2022)
8.4.3.3 Forecast Trend (2023-2028)
8.5 Global Sodium Ion Battery Market by Application
8.5.1 Stationary Energy Storage
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2022)
8.5.1.3 Forecast Trend (2023-2028)
8.5.2 Transportation
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2022)
8.5.2.3 Forecast Trend (2023-2028)
8.6 Global Sodium Ion Battery Market by Region
8.6.1 North America
8.6.1.1 Market Share
8.6.1.2 Historical Trend (2018-2022)
8.6.1.3 Forecast Trend (2023-2028)
8.6.2 Europe
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2018-2022)
8.6.2.3 Forecast Trend (2023-2028)
8.6.3 Asia Pacific
8.6.3.1 Market Share
8.6.3.2 Historical Trend (2018-2022)
8.6.3.3 Forecast Trend (2023-2028)
8.6.4 Latin America
8.6.4.1 Market Share
8.6.4.2 Historical Trend (2018-2022)
8.6.4.3 Forecast Trend (2023-2028)
8.6.5 Middle East and Africa
8.6.5.1 Market Share
8.6.5.2 Historical Trend (2018-2022)
8.6.5.3 Forecast Trend (2023-2028)
9 North America Sodium Ion Battery Market Analysis
9.1 United States of America
9.1.1 Market Share
9.1.2 Historical Trend (2018-2022)
9.1.3 Forecast Trend (2023-2028)
9.2 Canada
9.2.1 Market Share
9.2.2 Historical Trend (2018-2022)
9.2.3 Forecast Trend (2023-2028)
10 Europe Sodium Ion Battery Market Analysis
10.1 United Kingdom
10.1.1 Market Share
10.1.2 Historical Trend (2018-2022)
10.1.3 Forecast Trend (2023-2028)
10.2 Germany
10.2.1 Market Share
10.2.2 Historical Trend (2018-2022)
10.2.3 Forecast Trend (2023-2028)
10.3 France
10.3.1 Market Share
10.3.2 Historical Trend (2018-2022)
10.3.3 Forecast Trend (2023-2028)
10.4 Italy
10.4.1 Market Share
10.4.2 Historical Trend (2018-2022)
10.4.3 Forecast Trend (2023-2028)
10.5 Others
11 Asia Pacific Sodium Ion Battery Market Analysis
11.1 China
11.1.1 Market Share
11.1.2 Historical Trend (2018-2022)
11.1.3 Forecast Trend (2023-2028)
11.2 Japan
11.2.1 Market Share
11.2.2 Historical Trend (2018-2022)
11.2.3 Forecast Trend (2023-2028)
11.3 India
11.3.1 Market Share
11.3.2 Historical Trend (2018-2022)
11.3.3 Forecast Trend (2023-2028)
11.4 ASEAN
11.4.1 Market Share
11.4.2 Historical Trend (2018-2022)
11.4.3 Forecast Trend (2023-2028)
11.5 Australia
11.5.1 Market Share
11.5.2 Historical Trend (2018-2022)
11.5.3 Forecast Trend (2023-2028)
11.6 Others
12 Latin America Sodium Ion Battery Market Analysis
12.1 Brazil
12.1.1 Market Share
12.1.2 Historical Trend (2018-2022)
12.1.3 Forecast Trend (2023-2028)
12.2 Argentina
12.2.1 Market Share
12.2.2 Historical Trend (2018-2022)
12.2.3 Forecast Trend (2023-2028)
12.3 Mexico
12.3.1 Market Share
12.3.2 Historical Trend (2018-2022)
12.3.3 Forecast Trend (2023-2028)
12.4 Others
13 Middle East and Africa Sodium Ion Battery Market Analysis
13.1 Saudi Arabia
13.1.1 Market Share
13.1.2 Historical Trend (2018-2022)
13.1.3 Forecast Trend (2023-2028)
13.2 United Arab Emirates
13.2.1 Market Share
13.2.2 Historical Trend (2018-2022)
13.2.3 Forecast Trend (2023-2028)
13.3 South Africa
13.3.1 Market Share
13.3.2 Historical Trend (2018-2022)
13.3.3 Forecast Trend (2023-2028)
13.4 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Cost Analysis
17 Competitive Landscape
17.1 Market Structure
17.2 Company Profiles
17.2.1 Contemporary Amperex Technology Co., Ltd. (CATL)
17.2.1.1 Company Overview
17.2.1.2 Product Portfolio
17.2.1.3 Demographic Reach and Achievements
17.2.1.4 Certifications
17.2.2 Faradion Limited
17.2.2.1 Company Overview
17.2.2.2 Product Portfolio
17.2.2.3 Demographic Reach and Achievements
17.2.2.4 Certifications
17.2.3 Natron Energy, Inc.
17.2.3.1 Company Overview
17.2.3.2 Product Portfolio
17.2.3.3 Demographic Reach and Achievements
17.2.3.4 Certifications
17.2.4 HiNa Battery Technology Co., Ltd.
17.2.4.1 Company Overview
17.2.4.2 Product Portfolio
17.2.4.3 Demographic Reach and Achievements
17.2.4.4 Certifications
17.2.5 Aquion Energy
17.2.5.1 Company Overview
17.2.5.2 Product Portfolio
17.2.5.3 Demographic Reach and Achievements
17.2.5.4 Certifications
17.2.6 SAS TIAMAT
17.2.6.1 Company Overview
17.2.6.2 Product Portfolio
17.2.6.3 Demographic Reach and Achievements
17.2.6.4 Certifications
17.2.7 AMTE Power plc.
17.2.7.1 Company Overview
17.2.7.2 Product Portfolio
17.2.7.3 Demographic Reach and Achievements
17.2.7.4 Certifications
17.2.8 Others
18 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Sodium Ion Battery Market: Key Industry Highlights, 2018 and 2028
2. Global Sodium Ion Battery Historical Market: Breakup by Type (USD Million), 2018-2022
3. Global Sodium Ion Battery Market Forecast: Breakup by Type (USD Million), 2023-2028
4. Global Sodium Ion Battery Historical Market: Breakup by Phase (USD Million), 2018-2022
5. Global Sodium Ion Battery Market Forecast: Breakup by Phase (USD Million), 2023-2028
6. Global Sodium Ion Battery Historical Market: Breakup by Distribution Channels (USD Million), 2018-2022
7. Global Sodium Ion Battery Market Forecast: Breakup by Distribution Channels (USD Million), 2023-2028
8. Global Sodium Ion Battery Historical Market: Breakup by Region (USD Million), 2018-2022
9. Global Sodium Ion Battery Market Forecast: Breakup by Region (USD Million), 2023-2028
10. North America Sodium Ion Battery Historical Market: Breakup by Country (USD Million), 2018-2022
11. North America Sodium Ion Battery Market Forecast: Breakup by Country (USD Million), 2023-2028
12. Europe Sodium Ion Battery Historical Market: Breakup by Country (USD Million), 2018-2022
13. Europe Sodium Ion Battery Market Forecast: Breakup by Country (USD Million), 2023-2028
14. Asia Pacific Sodium Ion Battery Historical Market: Breakup by Country (USD Million), 2018-2022
15. Asia Pacific Sodium Ion Battery Market Forecast: Breakup by Country (USD Million), 2023-2028
16. Latin America Sodium Ion Battery Historical Market: Breakup by Country (USD Million), 2018-2022
17. Latin America Sodium Ion Battery Market Forecast: Breakup by Country (USD Million), 2023-2028
18. Middle East and Africa Sodium Ion Battery Historical Market: Breakup by Country (USD Million), 2018-2022
19. Middle East and Africa Sodium Ion Battery Market Forecast: Breakup by Country (USD Million), 2023-2028
20. Global Sodium Ion Battery Market Structure
Key Questions Answered in the Report
In 2021, the market attained a value of nearly USD 295.24 million.
The sodium ion battery market is projected to grow at a CAGR of 14.50% between 2023 and 2028.
The market is estimated to witness a healthy growth in the forecast period of 2023-2028 to reach USD 667.02 million by 2027.
The major drivers of the market include the growing demand for cleaner energy, increasing consumer demand for electronics, including smartphones and computers, easy availability of sodium ion batteries, growing deployment of battery energy storage systems, and growing number of solar and wind power projects.
The rising demand for electric vehicles and the increased focus on renewable energy sources are the key industry trends propelling the growth of the market.
The major players in the industry are Contemporary Amperex Technology Co., Ltd. (CATL), Faradion Limited, Natron Energy, Inc., HiNa Battery Technology Co., Ltd., Aquion Energy, SAS TIAMAT, and AMTE Power plc., among others.
Since sodium ion batteries are non-flammable and more resistant to temperature changes than lithium-ion batteries, they are safer and more effective than lithium-ion batteries.
Sodium batteries have high-power density, high efficiency of up to 90%, and a lengthy battery life of often over 10 years, making them highly durable.
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